Member Info for ShouldveSold

I am interested to learn how it is possible for Scirocco to loan EAG £1.2M. Then when agreeing a sale, it takes claims that because Scirocco doesn't have enough money, it was unable to negotiate the repayment of that loan. Lol

Thanks for the example explanation Delta. Being as they appear to be the the only ones listed here with a short on, it is more likely they that this is the case. Rather than them expecting bad news that the market isn't aware of.

And now that ii short has been increased lol what is going on?

Opps, yes I missed it.

A broker cut a few days ago to a broker upgrade today lol.

I was waiting for a sub £1.40p entry price but £1.41 might be the bottom. I am still waiting for that short to reduce.

I don't blame you Steve. By 2028 the Scirocco shareprice could still be at its current level. The Board hasn't outlined a path to profitability. It just regurgitates that its "seeking attractive assets in the renewable space". So far its been a pretty meaningless phrase.

Hopefully you can deploy that freed up cash elsewhere and start to recoup some of the losses you have crystalized here. I wish you well buddy.

Well they are not short of cash. I was and still am expecting higher highs with the double share buy back. Once whatever news that ii short is waiting for has passed, I think this will have a nice run.

As ever, timing is everything.

Knowing my luck, some news will drop & this will spike to £1.80 before Christmas lol

I have no idea. But it's currently at 1.10% up from 0.5% a few months ago. I'm guessing it's a lot more than I have invested.

I thought I timed my trade pretty well & that I would ride it through until Q1. However a few days after I got in, I saw they increased their short, so I got out at a very small loss.

Whether they are being unscrupulous or maybe they're predicting the profits will be much lower than last years, given the price of gas. Or whether this has something to do with the Smart Meter missed targets or even a Gas storage issue. It made me decide to not hold the stock.

I'm just gonna wait for a cheaper boat.

That ii has been continually increasing their short, that suggests to me that they know something the market doesn't.

Until that short comes off, I'm sitting on the sidelines.

Of the £2.5M received for initial payment, I would of thought at least £500,000 would have gone on settling director salaries for the past few years.

Factor another £100,000 in for a Christmas party and holiday gifts for the EAG Board of Directors. I am estimating £1.8M remains in the kitty. So Scirocco will have to wait for the second payment tranch do be able to do any deals. Will that payment be received this year? I am going to go with, No. But maybe before October 2024. Which leaves lots of time at the current share price to reduce ones average at say £40 per month.

:)

This is back into "reduce my average" territory with beer money.

Hi T.R & the other board members,

Hope you are all well & enjoying life. It would be nice to hear how you are all doing & if you have some funny stories or experiences to share since the last webcast. Please let us know if you are ok for money or if you need any assistance during the winter months .

:)

I share your frustration Steve, in my opinion Scirocco hasn't presented any investment case to the market since October 2021.

I have revised my expectation after the second Ruvuma sale payment has been received for it to have little to no change on the current share price.

My exit strategy has collapsed lol

Yes I agree with your conclusion highlandmatt.

But now that Scirocco has a cash surplus, one would hope that things can progress. The smallest communication would give a bit of reassurance to shareholders. I can understand if they have all taken leave for a holiday after completing the deal but some indication as to what is happening would be nice.

In my opinion, the Ruvuma deal is structured in a way that Scirocco may never receive the full sale price of £16M, although £8M is realistic within the next 5 years. But being as the Tanz gov moves at such a snails pace, who can predict anything.

My focus will always be on moving forward, not concerning myself with what is in the past & can't be changed.

I want Scirocco to show the market how this diversification WILL be profitable, not on if Tanzania gas will provide money to keep Scirocco afloat.

Hi cperkin, Scirocco have sold their steak in Tanz gas, including KN1. They don't have any say in what happens there now so what good would it do for me to worry about it?

Either APT will develop the gas fields & produce enough gas to trigger milestone payments or they won't.

I am more concerned about Scirocco's core business and if it can grow to become profitable.

Good luck to all the parties involved with Tanz gas. I'm not going to concern myself with it.

I actually meant,.literally fishing. On a rented yacht somewhere with the Wolf or Wall Street lol.

All it would take is one tweet to let shareholders know that they haven't scarpered off with the Ruvuma funds and that they are working on something. Radio silence is not helping anyone.

Funny thing is Steve is that T.R was clear that Scir couldn't wait for the Ruvuma funds to clear to make acquisitions/investments. But then he follows that up with "Scirocco has lost out on investment opportunities". Now its seems as of the Board have either all done a runner or gone fishing.